crises times, page-37

miningo,

it may be a 270% premium, but its not fair value.
i doubt any bid at $2 would get thru.
remember, we got a preliminary scoping study that values Railway at over $900m in worst case scenarios.
throw in a few more unfavourable effects to take it down to $700m and fair value is still around $5 a share.

so, are investors prepared to realise fair value, or are they just looking for a break even and quick get out??

that's the real $64k question.
if yes, we got no hope, even $1.30 would fly.
if no, $2 and $3 bids wont get off the ground.
in my opinion $4 bid comes close to "close enuff s good enuff" for most shareholders.

of course, this is all assuming a bid even comes...